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Reporter: $399 40GB PS3 For U.S. In November

Last week, Sony unveiled the "entry level" 40GB PS3 for Europe, and a rumor regarding a mammoth 160GB PS3 for Japan began to circulate. Well, we here in the U.S. were kinda feeling left out. When would Sony announce our new PS3 model? Or are we getting one at all?

According to the Hollywood Reporter, we are getting one; it's that 40GB version. The Reporter claims that Sony Computer Entertainment America will announce the $399 40GB PS3 for release in the U.S. on November 2. Apparently, they don't have the official confirmation from Sony themselves, but they do have inside info- "We're hearing Nov. 2 (for the U.S.)," said one industry source. Furthermore, it seems SCEA has "dropped hints" that retailers around the country should start clearing out existing inventory in order to make room for the new model.

As far as we know, this U.S. 40GB PS3 will be the same as the European model: two USB ports rather than four, no multi-memory card slot, no backwards compatibility for PS2 games (at first), and of course, the smaller hard drive. All the other standard features - Blu-Ray, of course - remain. SCEA had not returned the Reporter's calls for comment, so we'll just have to wait until Sony decides to make the official announcement. Perhaps this will be the crux of their "Big Bang" conference on Friday.